Tag Archives : Competition law

EU antitrust rules : a right to a compensation for citizens

Until now and for a majority of EU countries, cartel issues have been dealt with only through a public enforcement of European antitrust law by national competition authorities.

The new Directive on antitrust damages actions, which will be signed by the end of November 2014, acknowledges a right to compensation for anyone who has suffered harm caused by a cartel.
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(Re) Insurance pools to remain outside the scope of EU competition rules

FERMA has called for renewal of the Insurance Block Exemption Regulation (IBER) for (re)insurance pools in its response to the European Commission consultation exercise.

The Commission launched the consultation in August (see here) to begin its assessment whether the claimed benefits for the insurance market and customers of insurance pooling still justify the special treatment they receive from EU competition authorities. Thirty-six organisations have provided their responses (consultable here) and the Commission must provide a report to member states before 31 March 2016 with the objective of deciding on its renewal in 2017. Continue reading


Coverage of the largest and exceptional risks still needs an exemption from EU competition rules

In a response submitted to the European Commission on Tuesday 4 November, the Federation of European Risk Management Associations (FERMA) has called for renewal of the Insurance Block Exemption Regulation (IBER) for (re)insurance pools.

The Commission launched a consultation in August to begin its assessment whether the claimed benefits for the insurance market and customers of insurance pooling still justify the special treatment they receive from EU competition authorities. The Commission must provide a report to member states before 31 March 2016 with the objective of deciding on its renewal in 2017. Continue reading


Coinsurance: new review of Insurance Block Exemption

The European Commission has taken the first step towards the review of the Insurance Block Exemption Regulation (IBER), which will expire in 2017. A consultation was launched on 5 August and will last until 4 November. This must be seen as a first round to collect the views of all stakeholders dealing in some way or another with the insurance practices covered by the IBER.

The IBER is a sector-specific legal instrument that grants an exemption from EU antitrust rules for insurance practices like co(re)insurance pools, compilations and tables. The first IBER dates back to 1991 and was renewed in 2003 and 2010. Continue reading


Restrictions to co(re)insurance could be damaging to businesses

The Federation of European Risk Management Associations (FERMA) warned the European Commission that any restriction to the operation of the subscription insurance market could work to the disadvantage of business by reducing market capacity or making access to that capacity more difficult. Continue reading


FERMA Position Paper on the 2013 E&Y study on co(re)insurance practices

FERMA Position Paper on the 2013 E&Y study on co(re)insurance practices Continue reading


Insurance law can be an enterprise issue

Insurance law can be an enterprise-wide issue, so it’s essential that legal experts and risk managers understand what happens when the law is applied in business, Jorge Luzzi, the President of the Federation of European Risk Management Associations (FERMA), said this morning (Monday 3 June). Continue reading